ALBANY, N.Y. — New York realtors sold more than 12,200 previously-owned homes in June, a decrease of 10 percent compared to the nearly 13,600 homes sold in June 2017, as a lack of homes available for sale crimped sales totals.
The New York State housing market posted a “solid” first half of the year with 60,043 closed sales, falling “only 3.8 percent behind the 2017 record sales pace,” according to the latest housing-market report from the New York State Association of Realtors (NYSAR).
“The story line at the midpoint of this year is sellers doing well in a tight inventory market that also has eager buyers ready to close,” Duncan MacKenzie, CEO of NYSAR, contended in the organization’s report. “With the ongoing growth in selling prices, it is a great time for wavering sellers to come off the sidelines. If we see an uptick in seller activity and any meaningful growth in new residential construction, the housing market could make a run at last year’s sales record.”
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Sales data
The June 2018 statewide median sales price was $280,000, an increase of nearly 10 percent from the June 2017 median of $255,000, according to the NYSAR data.
Pending sales totaled more than 13,400 in June, a decrease of 3.5 percent compared to the same month in 2017.
The months’ supply of homes for sale fell to a 6.2 months’ supply at the end of June. It stood at 6.6 months at the end of June 2017. A 6 month to 6.5 month supply is considered to be a balanced market.
The number of homes for sale totaled 70,038 in June, a decrease of 5.3 percent compared to June 2017.
Central New York data
Realtors in Broome County sold 174 existing homes in June, down more than 10 percent from 194 a year ago, according to the NYSAR report. The median sales price increased more than 17 percent to nearly $130,000 from over $110,000 a year ago.
In Jefferson County, realtors closed on 103 homes in June, down more than 6 percent from 110 a year before, and the median sales price increased 4 percent to $150,000 from more than $144,000 in June 2017, according to the NYSAR data.
NYSAR also reports that realtors sold 192 homes in Oneida County last month, up about 7 percent compared to the 180 sold during June 2017. The median sales price rose about 2 percent to nearly $124,000 from $122,000 a year ago.
Realtors in Onondaga County sold 485 previously owned homes in June, down about 18 percent from the June 2017 total of 591. The median sales price rose 8 percent to $158,000, up from more than $146,000 a year ago, according to the NYSAR report.
All home-sales data is compiled from multiple-listing services in New York state and it includes townhomes and condominiums in addition to existing single-family homes, according to NYSAR.
Contact Reinhardt at ereinhardt@cnybj.com
